Titan America is a vertically integrated heavy building materials manufacturer operating primarily along the U.S. East Coast, covering Florida, Virginia, the Carolinas, and the New York/New Jersey metro area. The company produces and sells cement, aggregates, ready-mix concrete, concrete block, and fly ash, serving construction companies, infrastructure contractors, and government agencies. Cement anchors the business: Titan America operates two plants — the Pennsuco plant in Florida and the Roanoke plant in Virginia — with combined capacity of 3.8 million tons, supplemented by three marine import terminals in Tampa, Norfolk, and Essex. Downstream, the company converts cement and aggregates into finished concrete products through a network of 96 batch plants and 13 concrete block production lines. This vertical integration lets Titan America capture margin at multiple steps of the value chain, from raw material extraction through finished product delivery. Titan America also operates a fly ash processing business through its Separation Technologies subsidiary, which converts coal combustion byproducts into a cement substitute used in concrete mixes. The business reports in two segments: Florida (~61% of revenue) and Mid-Atlantic (~39%). Florida is the higher-margin segment, benefiting from year-round construction activity and strong population growth. Demand is driven by infrastructure spending, private nonresidential construction (particularly data centers in Virginia), and residential construction, which has been soft. Titan America is expanding cement capacity to ~4.9 million tons by 2030 and signed an agreement in early 2026 to acquire Keystone Cement in Pennsylvania, entering new Mid-Atlantic markets.